Concentra Group Holdings Parent, Inc. Announces Results For Its Third Quarter Ended September 30, 2024 and Cash Dividend
StockNews.AI · 505 days
High Materiality8/10
AI Summary
Concentra reported Q3 revenue of $489.6 million, a 3.3% increase. Net income decreased by 16.5% to $45.8 million compared to Q3 2023. Patient visits dropped 2.2%, averaging 50,916 visits per day. Concentra declared a dividend of $0.0625 per share, payable November 22, 2024. 2024 outlook projects revenue of $1.9 billion and adjusted EBITDA around $372.5 million.
Sentiment Rationale
Revenue growth is positive, but stagnant patient visits raise concerns.
Trading Thesis
Q3 results will impact CON performance in the upcoming quarter.
Market-Moving
- Concentra reported Q3 revenue of $489.6 million, a 3.3% increase.
- Net income decreased by 16.5% to $45.8 million compared to Q3 2023.
- Patient visits dropped 2.2%, averaging 50,916 visits per day.
Key Facts
- Concentra reported Q3 revenue of $489.6 million, a 3.3% increase.
- Net income decreased by 16.5% to $45.8 million compared to Q3 2023.
- Patient visits dropped 2.2%, averaging 50,916 visits per day.
- Concentra declared a dividend of $0.0625 per share, payable November 22, 2024.
- 2024 outlook projects revenue of $1.9 billion and adjusted EBITDA around $372.5 million.
Companies Mentioned
- SELECT (SELECT)
Earnings
Earnings report shows growth but also some warning signs affecting market confidence.